The Hamptons Market Update - Third Quarter 2016

Shelter Island, NY | Web: 0038336

The Hamptons Market Update Third Quarter 2016 THE HAMPTONS BROKERAGES Bridgehampton Brokerage | t. 631.537.6000 East Hampton Brokerage | t. 631.324.6000 Sag Harbor Brokerage | t. 631.725.6000 Southampton Brokerage | t. 631.283.0600

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Market Update The third quarter of 2016 saw the average sale price of Hamptons real estate rise 13% higher over the same period of the previous year, according to data compiled in the Long Island Real Estate Report. In the overall Hamptons market, total units sold were down by 18% and total dollar volume was 8% lower. Bridgehampton and Southampton had modest gains in average sales price while the average sales price Sag Harbor increased 85% from $1.5 million to $2.8 million, year over year. While total units sold were down in every town, Sag Harbor was the only market to post year-over-year gains in both average price and total dollar volume, which increased 46%. Though total dollar volume was down in the Hamptons overall, the quarter saw a 37% increase at prices above $10 million, with smaller gains at prices ranging from $3 million to $10 million. In comparison with 2012 levels, the overall Hamptons market now stands 57% higher in total dollar volume, from $478 million to $750 million, and 11% higher in total units sold, from 285 units sold to 315 units sold.

BRIDGEHAMPTON BROKERAGE | t: 631.537.6000 Ed Reale (Licensed as Patrick E. Reale), Brokerage Manager 2446 Main Street | Bridgehampton, NY 11932

EAST HAMPTON BROKERAGE | t: 631.324.6000 Nanette Hansen, Brokerage Manager 6 Main Street | East Hampton, NY 11937

SAG HARBOR BROKERAGE | t: 631.725.6000 Nanette Hansen, Brokerage Manager 35 Main Street | Sag Harbor, NY 11963

SOUTHAMPTON BROKERAGE | t: 631.283.0600 Ed Reale (Licensed as Patrick E. Reale), Brokerage Manager 50 Nugent Street | Southampton, NY 11968

SIGNIFICANT SALES | Q3 2016

BRIDGEHAMPTON SOUTH, NY | Last Asking: $13,450,000 Southampton Brokerage Patricia Petrillo | Associate Broker | 631.227.4916

EAST HAMPTON, NY | Last Asking: $8,750,000 East Hampton Brokerage Ann Ciardullo | Associate Broker | 631.903.0269 Keith Green | Associate Broker | 917.907.4788

SAG HARBOR, NY | Last Asking: $5,595,000 Sag Harbor Brokerage Susan Sprott | Associate Broker | 631.613.7208

WATER MILL, NY | Last Asking: $5,500,000 Bridgehampton Brokerage Dana Trotter | Associate Broker | 631.613.7346

All data in this report is derived from the Long Island Real Estate Reports. Since all final closed data for the current quarter had not been reported at the time this report was compiled, the available closed data was extrapolated in an attempt to approximate full results for the current quarter. Actual results may materially vary from the approximated results. The Hamptons residential real estate market is defined as the 12 areas noted on pages 2 and 3. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated

by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc. Equal housing opportunity.

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FEATURED PROPERTIES $1-10M

SOUTHAMPTON, NY | $14,500,000 | Web: 0047244 East Hampton Brokerage Kathy Konzet | Licensed Salesperson | 631.252.0254

BRIDGEHAMPTON SOUTH, NY | $6,788,000 | Web: 0038382 Bridgehampton Brokerage Angela Boyer-Stump | Licensed Salesperson | 631.613.7345

SAG HARBOR VILLAGE, NY | $5,700,000 | Web: 0057120 Southampton Brokerage Walter Glennon | Licensed Salesperson | 631.227.4912

AMAGANSETT, NY | $5,150,000 | Web: 0047038 East Hampton Brokerage Bob Steiner | Licensed Salesperson | 917.561.3423

SOUTHAMPTON, NY | $2,995,000 | Web: 1050741 Sag Harbor Brokerage Michael Daly | Associate Broker | 631.613.7205 Helen Gifford | Licensed Salesperson | 631.613.7216

SOUTHAMPTON, NY | $1,395,000 | Web: 0057116 Southampton Brokerage Molly Ferrer (Licensed as Mary Ferrer) | Associate Broker | 631.227.4925

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3

$6,000,000

40 35

$5,000,000

BRIDGEHAMPTON

$4,000,000

Sagaponack

$3,000,000

Centrally located, Bridgehampton enjoys open farm vistas, picturesque wineries, and a bustling historic village with an array of shops, restaurants, and galleries. Minutes away are miles of ocean beaches and bays with world class yachting. Home to the finest equestrian event, the Hampton Classic, as well as numerous art and music festivals, Bridgehampton offers a sophisticated cultural life. For the sporting enthusiast there are miles of scenic roads for biking, riding stables, and golf and tennis clubs including the famed Atlantic Golf Club.

$2,000,000

30 25 20 15 10

$1,000,000 $-

5 2012

2013

Average Selling Price

2014

2015

Median Selling Price

-

2016

Total Units Sold

2012

2013

2014

2015

2016

% Change (2016 v 2015)

AVERAGE SELLING PRICE

$2,856,000

$4,444,781

$4,817,828

$3,587,012

$4,270,046

19%

MEDIAN SELLING PRICE

$2,700,000

$3,660,000

$4,450,000

$2,815,650

$2,150,000

-24%

19

32

29

38

20

-49%

SINGLE FAMILY HOMES | Q3

TOTAL UNITS SOLD

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3

EAST HAMPTON Amagansett, Montauk, Wainscott Voted one of the most beautiful villages in the world, East Hampton retains its historic charm while offering the top names of fashion and the culinary world in its shops and restaurants. A vibrant cultural life extends year round with Guild Hall, the Hamptons International Film Festival, art gallery exhibits and elegant fundraisers. Beautiful biking and strolling lanes shaded by majestic elm trees lead down to miles of ocean beaches and the famed Maidstone Club. Â Three Mile Harbor and Gardiners Bay offer prime waters for sailing or powerboating.

$2,000,000 $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $-

250 200 150 100 50 2012

Average Selling Price

2013

2014

2015

Median Selling Price

2016

-

Total Units Sold

2012

2013

2014

2015

2016

% Change (2016 v 2015)

AVERAGE SELLING PRICE

$1,644,479

$1,496,006

$1,536,087

$1,743,961

$1,675,702

-4%

MEDIAN SELLING PRICE

$780,000

$820,000

$910,000

$1,200,000

$850,000

-29%

135

191

174

143

140

-2%

SINGLE FAMILY HOMES | Q3

TOTAL UNITS SOLD

BRIDGEHAMPTON | EAST HAMPTON | SAG HARBOR | SOUTHAMPTON

4

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3

$3,000,000

90 80 70 60 50 40 30 20 10 -

$2,500,000

SAG HARBOR

$2,000,000

North Haven, Noyack

$1,500,000

The historic whaling village of Sag Harbor exudes Victorian charm with a picturesque Main Street leading down to a busy wharf with some of the finest motor yachts in the world. Homes enjoy spectacular bay views dotted with sail boats. With a true port feel, Sag Harbor offers diverse dining options and unique boutiques with international wares. Famous artists and writers have been drawn to the rich cultural life and history of Sag Harbor, and the streets are filled with book stores and art galleries, a cinema and Bay Street Theatre.

$1,000,000 $500,000 $-

2012

2013

Average Selling Price

2014

2015

Median Selling Price

2016

Total Units Sold

2012

2013

2014

2015

2016

% Change (2016 v 2015)

AVERAGE SELLING PRICE

$1,199,777

$1,257,649

$1,627,100

$1,525,639

$2,823,182

85%

MEDIAN SELLING PRICE

$825,000

$810,000

$1,213,525

$995,000

$1,462,500

47%

39

59

52

77

61

-21%

SINGLE FAMILY HOMES | Q3

TOTAL UNITS SOLD

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3 160

$3,000,000

140

$2,500,000

SOUTHAMPTON

$2,000,000

North Sea, Water Mill

$1,500,000

Southampton combines its pedigreed past with its contemporary international culture. Famed hedged estates lead down to miles of ocean beaches and bay waters perfect for swimming, sailing or just relaxing.

Southampton enjoys a vibrant social calendar, including outdoor concerts and elegant fundraisers for charity and cultural institutions such as its highly regarded Parrish Art Museum. Home to famed Shinnecock and Sebonack Golf Clubs and National Golf Links, it is a draw for worldclass golfing.

SINGLE FAMILY HOMES | Q3 AVERAGE SELLING PRICE MEDIAN SELLING PRICE TOTAL UNITS SOLD

5

120 100 80 60

$1,000,000

40

$500,000 $-

20 2012

Average Selling Price

2013

2014

2015

Median Selling Price

2016

-

Total Units Sold

2012

2013

2014

2015

2016

% Change (2016 v 2015)

$1,679,568

$2,005,576

$2,728,321

$2,440,974

$2,748,848

13%

$997,250

$1,250,000

$1,385,520

$1,500,000

$1,590,500

6%

92

123

139

127

95

-26%

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ALL HAMPTONS | 5 Years | Q3 Comparison SALES BY TOTAL DOLLAR VOLUME 2012

2013

2014

2015

2016

% CHANGE

% CHANGE

Up to $999,000

$99,320,008

$137,090,231

$113,750,865

$102,374,983

$87,694,923

-14%

-12%

$1M - $2.99M

$161,952,022 $224,300,842

$245,886,195

$288,878,456

$170,541,191

-41%

5%

$3M - $5.99M

$121,694,650 $129,978,800

$188,630,950

$170,723,412

$182,346,401

7%

50%

$6M - $9.99M

$25,576,500

$97,070,000

$105,585,000

$126,939,000

$139,269,017

10%

445%

$10M and up

$69,037,000

$160,417,500

$216,989,000

$124,255,000

$169,992,206

37%

146%

TOTAL

$477,580,180

$748,857,373

$870,842,010

$813,170,851

$749,843,738

-8%

57%

PRICE RANGE

2015

15%

(2016 v 2015)

(2016 v 2012)

2016

13%

23%

Up to $999,000

12%

$1M - $2.99M 16%

23%

$3M - $5.99M 35%

$6M - $9.99M

18%

$10M and up

21%

24%

Up to $999,000

$1M-$2.99M

$3M-$5.99M

$6M-$9.99M

$10M and up

AVERAGE SELLING PRICE 6.0 5.0 4.0 3.0 2.0 1.0 -

2012

2013 Bridgehampton

2014 East Hampton

2015 Sag Harbor

BRIDGEHAMPTON | EAST HAMPTON | SAG HARBOR | SOUTHAMPTON

2016

Southampton

6

ALL HAMPTONS | 5 Years | Q3 Comparison TOTAL UNITS SOLD 2012

2013

2014

2015

2016

% CHANGE

% CHANGE

UP TO $999,000

159

219

178

159

141

-11%

-11%

$1M - $2.99M

88

132

141

159

104

-35%

18%

$3M - $5.99M

30

32

48

42

40

-4%

34%

$6M - $9.99M

3

12

14

16

19

16%

519%

$10M AND UP

5

10

13

9

11

27%

128%

285

405

394

385

315

-18%

11%

PRICE RANGE

TOTAL

3%

2015

2016 6%

4% 11%

(2016 v 2015)

3%

13%

41%

45%

33%

41%

Up to $999,000

(2016 v 2012)

$1M-$2.99M

$3M-$5.99M

$6M-$9.99M

$10M and up

MEDIAN SELLING PRICES 5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 -

2012

2013 Bridgehampton

7

2014 East Hampton

2015 Sag Harbor

2016

Southampton

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FEATURED PROPERTIES $10M+

SOUTHAMPTON VILLAGE, NY $32,000,000 | Web: 0057048 Southampton Brokerage Harald Grant | Associate Broker | 631.227.4913

WATER MILL, NY $12,995,000 | Web: 0038397 Bridgehampton Brokerage Cindy Shea | Associate Broker | 631.613.7325

EAST HAMPTON, NY $10,195,000 | Web: 0047396 East Hampton Brokerage Rylan Jacka | Associate Broker | 516.702.5707